Brandman Retail Shares End 5% Higher After Debut; Plans 15 New Stores

Brandman Retail Limited, which operates the Sneakrz multi-brand retail format, made its NSE debut, listing at a valuation of ₹324.85 crore.

The company’s shares, issued at ₹176 in its IPO, settled at ₹211.80 on the NSE, up 4.98% on 13 Feb 2026. The listing comes after the company raised ₹86 crore through its public issue. On 16 Feb 2026, the share opened at ₹222, gaining ~5% on the previous close of ₹211.80.

Brandman Retail operates as a distributor and seller of international sports and lifestyle labels in India. Set up by Arun Malhotra, the business has focused on bringing premium athleisure and performance footwear brands to the domestic market through its retail network.

How Did Brandman Retail Perform on Listing Day?

• The stock listed above its IPO price and held on to those gains through the session, finishing close to 5% higher than the offer price.

• Shares settled at ₹211.80. The premium was steady rather than sharp, indicating measured investor interest on debut. The IPO priced at ₹176 per share, with a lot size of 800 shares.

• The company offered 48.91 lakh shares to the public, raising ₹86 crore.

• As per the shareholding structure prior to the issue, promoters held over 1.27 crore shares. Pre-listing, the company’s market capitalisation stood at ₹324.85 crore.

• The listing date was set for 11 February, following the issue window that opened on February 4 and closed on 6 February.

How Will the IPO Proceeds Be Utilised?

According to the company’s disclosure, the funds raised will be directed toward store expansion, working capital support and general corporate purposes.

A significant portion of the proceeds is earmarked for expanding the company’s retail footprint. Brandman Retail runs 21 stores across the country, a mix of exclusive outlets for individual brands and multi-brand formats under its Sneakrz network.

The company now plans to add 15 more stores as part of its expansion drive. This is the first step in its aim to build a network of over 50 stores nationwide. A large portion of the IPO funds will go toward setting up these outlets and supporting the day-to-day working needs that come with a wider footprint.

The company has indicated that expansion will increasingly target Tier II and Tier III cities, where organised sneaker and athleisure retail remains relatively underpenetrated.

Beyond expansion, part of the proceeds will support general corporate expenses, giving the company additional operational flexibility as it scales.

What Does the Debut Mean for Brandman’s Growth Plans?

Brandman Retail operates its outlets under the Sneakrz name and sells international sports and lifestyle brands such as New Balance, Saucony, Anta, Wilson, Salomon and Rockport in India.

It partners with these brands to handle distribution and retail operations, giving them a route to expand through physical stores across cities.

The sports and athleisure space in India has been seeing steady demand, helped by greater interest in fitness and everyday casual wear. Outside the big metros, organised sneaker retail is still developing, which leaves room for new stores in smaller cities.

The company has said that, if the rollout goes as planned, revenue could rise more than three times over the next five years. The company’s plans revolve around adding more stores while continuing its tie-ups with partner brands and keeping costs under control.

In recent financial disclosures, Brandman Retail reported growth in its asset base and net worth over the last two years. Net profit was ₹20.95 crore for the period ended December 2025, compared with ₹8.27 crore in FY24.

The stock’s listing gain was limited, suggesting a cautious but positive response from investors. Going ahead, much will depend on how quickly new stores are opened and how well they perform, along with overall consumer demand in the retail segment.

With its NSE debut, Brandman Retail has moved into the public market space, marking a shift from being privately held to operating as a listed company with expansion plans across India.

Sources:

Business Standard

ET

Mint

CNBC